Modern Money Theory and Distributive Justice

Justin P. Holt

Journal of Economic Issues, 2017, vol. 51, issue 4, 1001-1018

Abstract: Modern money theory is a conjecture concerning fiscal spending and the nature of money. I show that modern money theory provides two interesting insights into distributive justice that have not been addressed in the recent Anglo-American distributive justice literature: (i) that the nature of a sovereign fiat currency allows for some distributive conflicts to be avoided; and (ii) that recent Anglo-American distributive justice theories assume that the economy is at capacity. Based on this, I consider whether the policy results of modern money theory can help foster a sense of justice.

Date: 2017
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DOI: 10.1080/00213624.2017.1391584

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